Global financial markets saw an active start at the beginning of the week, driven by U.S. President Donald Trump's decision to exempt a number of goods, including smartphones and computers, from tariffs. This decision helped to temporarily ease trade concerns and had a direct impact on currency movements, commodity markets, U.S. indices, and even cryptocurrencies.
U.S. Dollar Stable Awaiting Crucial Data The U.S. Dollar Index stabilized during today’s trading, recording a slight decrease of 0.09% at a level of 99.96 points, the lowest level since April 2022. Investors are awaiting U.S. retail sales data this week alongside unemployment claims numbers, which are expected to play a pivotal role in directing dollar movements over the coming days.
Limited Increases in Oil Prices Supported by Trade Optimism Crude oil prices recorded slight gains at the start of the week, amidst a positive atmosphere fueled by Trump’s announcement to exempt imported electronic goods from China from tariffs. West Texas Intermediate crude contracts rose to $61.52 per barrel, while Brent crude increased by 2.44% to $64.85. This rise was supported by optimistic expectations regarding the recovery of global energy demand.
Gold Falls by More than $30 as Risk Appetite Returns Conversely, gold prices saw a significant decline due to easing fears regarding escalating trade wars, which led to a drop in demand for safe-haven assets. The yellow metal fell by 0.97% to around $3206 per ounce, losing more than $30 during the session.
Bitcoin Surges Strongly Breaking the $84,000 Barrier In the realm of digital assets, Bitcoin experienced a rise of 1.47% trading near $84,942. This surge is attributed to improved risk appetite and a reduction in global economic concerns, alongside liquidity flows towards high-yield assets such as cryptocurrencies.
Wall Street Opens the Week with Notable Collective Gains U.S. stock indices began the week with strong gains, as the Dow Jones Industrial Average rose by 1.03% to 40,626.89 points, while the S&P 500 increased by 1.13% to 5,424.07 points. The Nasdaq index also recorded gains of 0.97%, closing at 16,886.07 points, supported by a rebound in technology stocks due to tariff exemptions.
